Gen Y and Money Overconfident and Undercapable #infographic

Published by Web Desk Thursday, May 29, 2014

Generation Y is the largest, most diverse generation America has ever seen. Generation Y is made up millions of individuals born between the late 1970s and the mid 1990s. While this generation is young, ambitious, educated, and optimistic, many Gen Yers lack adequate personal financial management skills. As a result, they face the grim reality of long term debt related to higher education, expensive spending behaviors, and credit cards. What further exacerbates this problem is this generation's overconfidence and reliance on alternative financial services such as payday loans and pawnshops. This infographic reviews data from the most recent National Financial Capability Study (NFCS), to better understand Generation Y's financial capability and long-term financial planning.

Infographic by: filene

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